Hiring Outlook for M.B.A.s: In a Word, Meh.

The job market for new business graduates is not weakening. But it’s not getting stronger, either.

Employers expect to hold steady with their hiring plans for M.B.A.s and undergraduates this year, though economic uncertainty in the Eurozone and emerging markets, along with continued brinksmanship in Washington, are still keeping companies from hiring as freely as they might like.

Seventy-two percent of employers plan to hire M.B.A.s in the current academic year, about even with their actual hiring activity for the class of 2013, according to a new report from the Graduate Management Admission Council, which administers the GMAT, a business school admissions exam. Of those planning to recruit B-school grads, 43% expect to hire the same number as last year, and another 43% expect to increase their recruiting class size.

Slightly more than 80% of respondents expect to hire undergrads, similar to the share that actually hired undergrads in 2013. (Chances are those jobs aren’t in finance, though: A November report from Michigan State University’s Collegiate Employment Research Institute found that hiring for financial services was expected to shrink by 40% this year.)

The news is not great for students pursuing master’s degrees in finance, accounting and management: Recruiters remain less enthusiastic about those recruits, mostly because they’re unsure where, exactly, they fit in company hierarchy. Most specialized master’s programs are geared toward recent grads without significant work experience, and have large international populations. Just 35% and 36% of employers forecast hiring master’s of finance or accounting students, respectively, about even with their actual 2013 hiring. Those pursuing a master’s in management can expect a slightly more active market, with 42% of employers saying they’re considering that talent, up from 37% this year.

According to the GMAC report, a large share of employers anticipate increasing salaries in line with inflation, but students shouldn’t expect any major pay bumps beyond that.

The survey is based on responses from 185 companies in 33 countries worldwide, including Fortune 100 firms.

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